The Federal Government is notifying the general public that the MSME Survival Fund Payroll Support Portal is reopened in 30 states.
These include states whom it said did not meet their quota before the portal closed the last open period.
The survival fund is a that wants to support MSMEs who are struggling to meet payroll obligations. Its target is to cover three months of payment for over 500,000 employees of different MSMEs. More so, to help MSMEs safeguard jobs.
The FG expects to save a least 1.3 million jobs across Nigeria with the survival funds scheme.
The portal – http://survivalfund.gov.ng – is open from January 27 to February 2, 2021, according to the announcement.
The portal closed on October 15, 2020, after running for about one month and the committee said had been considering reopening.
- FG Releases One-Time Survival Fund of N30,000 to 333,000 MSMEs
- Portal Opens For Business Owners To Register For Survival Fund NG
All states except Benue, Plateau, Bauchi, Kano, Kaduna, Rivers States and the FCT are eligible to apply now. The six states lasted alongside the FCT have met their quota the statement explains.
The qualification requirements remain the same for participants as the announcement noted:
- Businesses must have CAC registration
- Businesses must have a minimum of 10 and a maximum of 50 staff
- Must have verifiable BVN
- Businesses owned by Nigerians
- The Scheme provides for 45% female participation and 5% Special Needs participation.
Registration for the scheme is free. Further details are available at survivalfund.gov.ng.
In September 2020, the FG launched MSME survival fund Guaranteed Offtake Scheme at N60 billion and N15 billion respectively. The fund is part of the N2.3 trillion stimulus package of the Nigerian Economic Sustainability Plan.